Ponzi scheme and its aftermath

For months, millions of Nigerians have been investing and benefitting from the Ponzi scheme, Mavrodi Mondial Movement (MMM).

All warnings from the federal government has fallen on deaf ears.

This December, MMM participants will not be smiling to the bank as usual because all the accounts have been frozen.

A circular on the MMM website said all confirmed Mavro has been frozen for a month. This means those who have provided help and are waiting to get help will not be able to do so until after one month when the ban is off.

However, participants were asked not to panic as everything will be back to normal in the New Year.

The message displayed on MMM website

This is bad news for many Nigerians who have put in a lot of money into the money doubling scheme, hoping to get extra money to celebrate this Christmas.

Many have taken to social media to taunt MMM participants who refused to listen to warnings while others are crying that the freeze came at a wrong time with Christmas almost here.

A day ago, the founder of MMM, Sergey Mavrodi wrote a letter to Nigeria’s federal government, listing the benefits of the scheme. He urged the President Muhammadu Buhari-led administration to embrace the movement which he said is helping Nigerians.

Is this goodbye to MMM? 

Source naij.com